Seychelles

Description

The Republic of the Seychelles is located on the Indian Ocean, east of Africa. Offshore companies registered in the Seychelles are quite popular in international financial circles as theflexible company laws and thesimple taxsystem can facilitate the operation of businesses to a considerable extent.

This is why the Seychelles are widely known as a fixed taxation location as offshore companies only need to pay a small amount of tax every year specified in advance, which does not depend upon the profit they make. Apart from this fixed tax, companies have no other tax liabilities. Since companies registered in the Seychelles do not need to pay taxes on their profits, they do not need to submit a tax return to the local authorities. Offshore companies are required to keep records of business events but the records need not be stored in Seychelles.

The equity must be at least USD 1 at the time of registration, which must be paid up by the shareholders. The company is only required to have one manager and one shareholder, who can also be foreign persons. There are no restrictions on whether they should be legal entities or natural persons. The local court of registration does not keep a record of the data of the manager or the shareholder. The company must have a local address, which qualifies as its official seat. The company is entitled to transfer its official address to another country at any time.